1.
"Consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole
or in part is a benefit provided, but does not include:
A. Insurance provided in relation to a credit transaction in which a payment is scheduled more than 15 years after the extension
of credit; [1975, c. 288, §1 (AMD).]
B. Insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring
consumers of the creditor; or [1973, c. 762, §1 (NEW).]
C. Insurance indemnifying the creditor against loss due to the consumer's default. [1973, c. 762, §1 (NEW).]
[
1975, c. 288, §1 (AMD)
.]
2.
"Credit Insurance Act" means Title 24-A, chapter 37.
[
2001, c. 138, §1 (AMD)
.]
SECTION HISTORY
1973, c. 762, §1 (NEW).
1975, c. 288, §1 (AMD).
2001, c. 138, §1 (AMD).
Data for this page extracted on 10/16/2012 08:19:41.